TMAC Resources Inc. (TSX: TMR) ('TMAC' or the 'Company') announces that Thomas Boehlert has joined the Board of Directors as the second appointee of Resource Capital Funds ('RCF').
Terry MacGibbon, Executive Chairman, stated, 'I would like to welcome Thom to the Board of TMAC. Both the Board and management are looking forward to working with Thom. We appreciate RCF's continued support and welcome RCF nominating such a strong Director of Thom's calibre.'
Mr. Boehlert most recently served as Executive Vice President and Chief Financial Officer of Bunge Limited from 2017 to 2019. Prior to joining Bunge Limited, he was the President and Chief Executive Officer of First Nickel Inc. from 2011 to 2015 and Executive Vice President, Chief Financial Officer of Kinross Gold Corporation from 2006 to 2011. Mr. Boehlert previously worked as Executive Vice President, Chief Financial Officer of Texas Genco in 2005, Direct Energy in 2004, and Sithe Energies, Inc, from 2000 to 2003. Prior to Sithe Energies, Mr. Boehlert was an infrastructure and energy project finance banker at Credit Suisse for 14 years. Mr. Boehlert holds a Bachelor of Arts in accounting from Indiana University and a Masters of Business Administration from New York University.
ABOUT TMAC RESOURCES INC.
TMAC Resources operates Hope Bay located in Nunavut, Canada. The property and operations are remote but not isolated, serviced by both a port and airstrip. Hope Bay is an 80 km by 20 km Archean greenstone belt that has been explored by BHP, Miramar, Newmont and TMAC over a period spanning more than 30 years. In that time, more than $1.5 billion of sunk expenditures have been spent in exploration and evaluation, surface infrastructure, and mine and process plant development. TMAC began producing gold in early 2017 from Doris, its first mine at Hope Bay, and processed gold at the Doris Plant which originally had nameplate capacity of 1,000 tonnes per day and expanded to 2,000 tonnes per day midway through 2018. Hope Bay has 4.8 million ounces of measured and indicated resources at Doris, Madrid and Boston deposits, largely within 350 metres of surface. There is potential to grow these established deposits considerably at depth, and then grow resources further through the prioritized exploration of the more than 90 other identified regional targets. TMAC has already obtained the necessary regulatory approvals for production from Madrid and Boston deposits.
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